- 92.2 g/t ( 2.69 opt) gold over 3.6 m
(11.8 ft) in hole N10U-033
- 33.2 g/t (0.97 opt) gold and 165.2
g/t (4.8 opt) silver over 1.5 m (4.9 ft) in hole N10U-028
- Second underground diamond drill
employed - 2 shifts 24/7
- 28,000 metre drill program ongoing
with 9635 metres drilled to date
March 7, 2011 Vancouver, Canada -
Fire River Gold Corp. (TSX-V: FAU; OTCQX: FVGCF; FSE: FWR) ("FAU" or
the "Company") is pleased to announce results obtained from the
2010 28,000 metre drill program at the Nixon Fork Gold Mine situated
in Alaska's Tintina Gold Belt. The Company has received assay
results of drillholes 26 through 35 (N10U-026 - N10U-035) from the
New significant intercepts include N10U-033 returning grades of
92.2 g/t (2.69 opt) gold over 3.6 m (11.8 ft) and 33.2 g/t (0.97
opt) gold and 165 g/t (4.82 opt) silver over 1.5 m (4.9 ft) in hole
N10U-028. A complete list of significant intercepts is provided
in Table 1. The widths of the intercepts are approximate to
the true width of the mineralized intercept.
Management of Fire River Gold continues to be encouraged with the
results from the 2010 drill program, because it is exhibiting the
potential to provide additional resources to the mill.
Table 1. Results from holes N10U-026 to N10U-035
Nixon Fork Gold Mine
The Nixon Fork Gold Mine was acquired in September 2009. From 1995 -
2007, the project produced approximately 175,000 ounces of gold at
an average grade of 39 grams per ton (1.14 opt). The mining and
processing facilities at Nixon Fork are permitted and bonded. The
deposit is a gold-rich copper silver skarn typical of other skarn
systems found throughout the world. At Nixon Fork, the higher grades
are found in steeply plunging pipe-like bodies which are oxidized to
depths of up to 350 meters below the surface. Oxidization of the
system has resulted both in secondary copper and gold, with high
grades and a "nuggety" distribution.
The Qualified Person for this news release is Richard Goodwin, P.Eng.,
President & COO, Fire River Gold Corp.
About Fire River Gold Corp.
Fire River Gold Corp. is a near term production company with an
experienced technical team focused on bringing its flagship project,
the Nixon Fork Gold Mine, back into production in 2011. The Nixon
Fork Gold Mine is a permitted and bonded mine which include a ~200
tpd processing plant with a gravity gold circuit, sulphide flotation
circuit and a gold recovery system (CIL circuit) that is scheduled
to be completed by Summer 2011. The mine also includes a fleet of
surface & underground mining vehicles, a self-contained power plant,
maintenance facilities, drilling equipment, an 85 person camp,
office facilities and a 1.2 km long landing strip.
Fire River Gold Corp is a member of the International Metals Group.
On behalf of the Board of Directors, I look
forward to keeping you updated with our corporate developments.
President and COO
Certain information regarding the Company including management's
assessment of future plans and operations, may constitute forward-looking
statements under applicable securities laws and necessarily involve risks
associated with mining exploration and development, volatility of prices,
currency fluctuations, imprecision of resource estimates, environmental and
permitting risks, access to labour and services, competition from other
companies and ability to access sufficient capital. As a consequence, actual
results may differ materially from those anticipated in the forward-looking
statements. A feasibility study has not been completed and there is no certainty
the disclosed targets will be reached nor that the proposed operations will be
economically viable. The TSX Venture Exchange or its Regulation Services
Provider have not reviewed and do not accept responsibility for the adequacy or
accuracy of the contents of this news release, which has been prepared
by management. We seek